5212-S AMS WOOD WILS 012

SSB 5212 - S AMD - 014

    By Senators Wood, Long, Deccio, Winsley, Prince and Hochstatter

                                                 WITHDRAWN 1/30/97

    On page 27, line 10, after "payable;" strike all material down through "(2)" on line 11 and insert the following:

    "(2) "Limit factor" means:

(a) For taxing districts for which a one hundred six percent limit is authorized under section 204 of this act, one hundred six percent;

(b) For all other districts, the lesser of one hundred six percent or one hundred percent plus inflation; and

(3)"

    On page 27, line 18, after "shall not exceed" strike all material down through "lower, of" on line 19 and insert "((one hundred six percent of)) the limit factor multiplied by"

    On page 27, line 33, after "shall not exceed" strike all material down through "lower, of" on line 34 and insert "((one hundred six percent of)) the limit factor multiplied by"

SSB 5212 - S AMD - 014

    By Senators Wood, Long, Deccio, Winsley, Prince and Hochstatter

                                                 WITHDRAWN 1/30/97

    On page 28, after line 5, insert the following:

    "NEW SECTION. Sec. 204.  A new section is added to chapter 84.55 RCW to read as follows:

    Upon a finding of substantial need, the legislative authority of a taxing district, by majority vote plus one additional vote, may provide for the use of a limit factor under this chapter of one hundred six percent instead of the lesser of one hundred six percent or one hundred percent plus inflation.  The new limit factor shall be effective for taxes collected in the following year only.@

    Renumber the remaining sections and correct any internal references accordingly.

SSB 5212 - S AMD - 014

    By Senators Wood, Long, Deccio, Winsley, Prince and Hochstatter

                                                 WITHDRAWN 1/30/97

    On page 1, line 9 of the title, after A84.40 RCW;@ insert Aadding a new section to chapter 84.55 RCW;@

                            --- END ---

EFFECT: Allows a taxing district to use a 6% inflation factor for any year in which the legislative authority finds there is substantial need if approved by the legislative authority of the taxing district.